In the Moscow temple of luxury, the GUM, an elite shopping center located on Red Square, the major revenues would derive from the sales of Made in Italy luxury products. To declare it to the Sole 24 Ore is il managing director and president of GUM Teymuraz Guguberidze who declares the prevalence of sales of Italian luxury products over French ones.
Giulio Gargiullo Online Marketing Manager and for more than ten years specialized in the luxury business between Italy and Russia confirms the data and adds in an interview released on the occasion of the "Luxury Week" on Reteconomy Sky on air these days:" Despite the devaluation of the ruble, the Russian market still remains a fundamental market for high-end and in particular fashion, as they are fundamental high spender Russian tourists unaffected by the crisis, while the middle class is affected. Among the foreigners who spend the most in Italy together with the Russians we find the Chinese, the Americans and the Arabs”.
Gargiullo continues: “There is no doubt that the Chinese and the Americans are increasing their purchases and their average spending. Russians still remain among the top spenders, for example, as regards the tax-free according to Global Blue data relating to the summer of 2015, Russian tourists are top spenders on the Amalfi Coast, the Ligurian Riviera and Versilia".
As reported by Global Blue to the Altagamma Observatory, the Chinese are positioned with 36% of purchases (45% if Greater China) and with a growth of 64% compared to the previous year, the Russians register a -38%, maintaining however the second position among the top spenders, with 9% of spending. Americans increase purchases by registering +57% and reach 5% market share.
Concludes Giulio Gargiullo Online Marketing Manager expert in luxury business in Russia: “from the forecasts of Promethea and from Study Center of Confindustria within the project "Exporting la Dolce Vita”, in which he also takes part Italian Fashion System (Smi), Moscow should start again from 2017. Signs of recovery will also come from 2016 thanks to the Special project Russia wanted by Ice, Come on e Ministry of Economic Development launched in 2015 with a budget of one million euros. Among the initiatives, aimed at developing the luxury fashion business, is that of bringing Russian buyers to Italy in the main events of the fashion sector in the Bel Paese. The resurgence is expected in the medium-high-end segment between now and 2020 and should increase by 26,7% towards the Russian Federation, reaching 1,3 billion euros. This regrowth would make it possible to leave behind the losses between 13 and 30% recorded in recent months by Italy towards Moscow”.
